By Jeroen Smit
On nine October 2007, the Royal financial institution of Scotland (RBS) celebrated its best function within the greatest deal in banking background, a checklist seventy one billion euros for Dutch financial institution ABN Amro. looking for an instantaneous revenue, the victors dismantled ABN Amro - and Holland's #1 financial institution ceased to exist. Shareholders and administration loved the spoils and the Netherlands misplaced the financial institution that have been on the middle in their economic climate for 183 years. however the earnings have been an phantasm - they just were not there. three hundred and sixty five days later, RBS were pressured into the biggest rights factor in British company heritage, underwritten through the govt..
So why was once ABN Amro so poisonous? at the foundation of greater than a hundred and twenty conversations with crucial participants concerned, Jeroen Smit reconstructs the downfall of a Dutch establishment - a financial institution whose rotten center was once so disguised by means of paper earnings of billions each year. In little greater than a decade, one in all Europe's biggest, longest validated banks went from robust predator to the precise prey.
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